HealthCity takes over Fitness First's European portfolio
Netherlands-based HealthCity has secured a deal for the takeover of all 45 Fitness First clubs in France, Spain and Italy.
The news comes six months after HealthCity completed a separate deal which saw it take over 56 Fitness First clubs in the Benelux countries.
The latest takeover includes 12 clubs in France, 16 in Spain and 17 in Italy.
According to Fitness First, the deal is part of a strategy to "shift its focus to developing countries", particularly in Asia.
The takeover makes HealthCity one of the largest fitness chains in Europe.
René Moos, HealthCity CEO, said: "With the addition of these Fitness First clubs, we are now present in seven countries and we perceive opportunities to build up a leadership position in the new countries as well."
HealthCity was founded in 1986 in Hoofddorp and grew to 11 clubs in 2005 when it received a capital injection from Waterland Private Equity Investments.
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